The Egyptian government announced Wednesday that maritime security in the Red Sea has seen significant improvement, urging international shipping companies and foreign governments to redirect vessels through the Suez Canal.
Prime Minister Mostafa Madbouly made the appeal during a ceremony attended by foreign ambassadors, emphasizing the strategic and economic importance of the waterway. “The Suez Canal is the world’s main shipping artery and a source of pride for every Egyptian,” he said.
Madbouly stated that attacks on commercial vessels in the Red Sea have ceased since December 2024, and called on diplomats to relay this development to their respective countries. “We invite global shipping firms to resume operations through the Suez Canal,” he added.
The Suez Canal, a vital source of foreign revenue for Egypt, has suffered a sharp decline in earnings following Houthi-led attacks on commercial vessels in the Red Sea. These assaults, which escalated after the start of the Gaza conflict, forced many shipping lines to divert routes around the Cape of Good Hope, significantly affecting traffic through the canal.
According to government figures, canal revenues plunged by more than 60 percent in 2024 compared to the previous year, translating into a loss of approximately $7 billion.
The United States has responded to the crisis by launching widespread airstrikes on Houthi positions in Yemen in an effort to protect maritime navigation. The Houthi group began targeting Israeli-linked vessels in late 2023, claiming the attacks were in solidarity with Gaza. The group paused its assaults after a ceasefire was declared in January, but resumed operations when hostilities in Gaza flared up again last month.
The Red Sea remains one of the world’s busiest maritime corridors, crucial for the global transport of oil and fuel. Egypt’s renewed call for the return of vessels to the Suez Canal signals an effort to restore confidence in one of the country’s most critical economic lifelines.